HI Guys, have not been in for a visit for some time, good to see some familiar faces still around. I have a question and I thought what better place to get knowledgable answers but at SilverStackers? Okay, i may have to relocate to the UK later this year and was wondering if I am able to take my stack with me. About 20k worth. I am also looking at cashing out my super and was wondering if buying allocated at the Perth Mint would be the way to go. It would need to be accessible as cash from the UK should the need arise. Any thoughts? I was also looking at possibly Bitcoin, as I am going to need funds to be portable between countries without too much red tape.
Do a swap for gold here, carry it on your carry on, and then swap back for silver in UK. Might loose a little both way but probably best way to do it. 20k in silver is quite a few kilos but only about 200g in gold.
Ok ... This is an easy one ... I'm a dual citizen myself and as most here know travel to Berlin via UK every year for the World money Fair. The best way is to sell what you have and buy Sovereigns here in Australia a few weeks before you leave. You then claim the GST on the sovereigns as you leave, creating a 10% refund on your credit card. They are legal tender and tax free in the UK. You can then trade them for pure bullion at a number of UK dealers. ... although living in UK I would just hold the sovs.
That and sales tax here in the states would pretty much kill precious metals as an investment. Terrible.
Why would anyone pay that or ever divulge that information is beyond me. How would the govt ever know what you sell?
'I was also looking at possibly Bitcoin, as I am going to need funds to be portable between countries without too much red tape.' Cryptos are awesome, and suited to this task; but I advise not using them for any significant amounts at all until you have your 'OPSEC' well in hand: setting up and securing the 'Electrum' wallet that you'd be using.
When CK says they are tax free he means no capital gains tax on sovereigns when you come to sell. That is quite a valuable point.
I'm trying to work out how this is better than gold kangaroos or cast bars? If you're buying sovs from a dealer (to get a tax invoice) you'll pay at least spot +10% GST or more, and then you need to claim the GST back when you're leaving Aust. Why not just get some 999 gold bars and take that?
Partition them for spread Some for Crypto - then exchanged it to USDT (to avoid price changes) then back to crypto then cash out. Some in Gold Gov't issues bullion coins Few to be sold for cash, easy to sell them at present time
If you were a tax resident of UK, you'd need to pay capital gains tax for the non-UK (not CGT-free) gold bullion sales. "Capital Gains Tax is exempt on all British legal currency. This includes Gold Britannia coins, Silver Britannia coins and Gold Sovereigns. This means you can make an unlimited tax-free profit on investments of any size and value on ALL of these British legal currency bullion coins. CGT is payable on all other gold and silver coins which do not fall into the category. All gold and silver bullion bars are taxable." That said - there's a £12,000 threshold. "Capital Gains Tax is only payable if an investor realises over £12,000 of profit in one financial year. Be mindful that the £12,000 limit is not the total value of selling your bullion but the profit made from your original outlay."
Because you have a special relationship with your bullion dealer and CAN get them below 10% over spot... Always try and foster a good relationship... If they are buying for spot or below spot including GST they can make a much bigger markup by selling to you (under 10% above spot) than they ever make on kangaroos.